Gazprom Neft increase recovery by 2.9% in Jan.-Apr. 07, y-o-y

Gazprom Neft increased recovery by 2.9% to 10.895 mil tons in Jan-Apr 2007 from 10.586 mil tons, said in the company's announcement.
In four months of 2007 170 wells were drilled. 646.6 thd tons were produced from new wells, that exceeds 63.2% the results of 2006. 176 wells were set in exploitation, that is 50.4% more then in Jan-Apr 2006.
After hydrofracturing was performed 65 wells sere set in operation.
In Jan-Apr Gazprom Neft performed workovers program over 372 wells, that caused 818 thd tons of oil additional recovery.
Gazprom Neft is one of the largest oil companies in Russia. Its major shareholder is Gazprom who in October 2005 purchased 72.66% of the Company's shares for $13.079 bn, and thus increased its share to 75.68%. Another 20% of Gazprom Neft's shares are owned by YUKOS. In 2006 Gazprom Neft lowered its consolidated oil production by 1.7% to 44.4 million tons.
Gazprom Neft ranks eight in the list of Russian leading companies according to the results of 2005, published by AK&M September 2006.